Entity is the client you have to manage. To Create a new Entity in Officio, you must follow these steps;
- Go to Entity page. Click button New Entity.
- You will see plenty of fields in the New Entity page. Enter the information in all the fields.
- Add Address relevant to this newly created Entity.
- Hit Save button.
By default all entities are set to adopt the Companies Act (CA) 2016. However, you can switch to the CA 1965 if the entity has not adopted it (which is very rarely these days).
Should you want to switch back to the CA 2016 from CA 1965 (after you have transacted the shares), you can have the option either to abolish all the share certificates or to maintain the existing share certificates.
By default all entities are without Share Certificates (because all set to CA 2016). However, if the entity opts to adopt the Companies Act 1965, it will be automatically subscribing to the share certificates mechanism for Shares Transactions.
It is very important to carefully select the appropriate checkboxes when you add Address to the Entity.
Registered Address will automatically pick up your Company address in the Company setting. So by ticking the checkbox of Registered Address, the system will automatically copy your office address into the appropriate address fields. This will save your time to do data entry.
You can also add many addresses as you need, especially if the Entity has many Business Address and branches as well. These addresses will be reflected in the Annual Return submission.
Change of Address
You should not change the address directly from the Edit mode. You need to use the Relevant Form in the Overview mode. This will automate the changing of the address.